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Screenshot of a breaking news alert e-mail from Q2 2017
In conversation with several leading brokers serving the Russian market, LeapRate has learned that lackluster FX trading volumes seen so far in 2014 have quickly reversed, as general optimism has returned to the Russian trading street.
This boost could continue well through the summer months as momentum volatility increases with the easing of geopolitical tensions, which saw today pro-Russian separatist leaders in Ukraine’s east agree to observe a ceasefire with Ukrainian forces. This sent the Russian Ruble higher on the day, and Russian equities to their highest levels year-to-date.
To seal the cease fire deal, Vladimir Putin asked the upper house of parliament to revoke Russia’s right to send troops to Ukraine, where pro-Russian separatists have been fighting troops loyal to Kiev.
“News about the de-escalation of the (Russia-Ukraine) conflict should be taken well by market participants,” Grigory Birg, an analyst at Investcafe told Reuters.
Alpari, the leading broker serving the Russian FX market, just reported for May its worst month of volumes since 2012, but now we expect June to be a lot better. Stay tuned to LeapRate as the calendar month turns to July…